Ep 2 - How is Inflation Calculated in India?

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DataSpot

DataSpot by IndiaDataHub

16 episodes

2 days ago

In the DataSpot podcast, we try to demystify economic data or indicators for you. We will attempt to answer the practicalities of various economic indicators and concepts rather than their theory. We will try and answer questions like, how is a particular indicator calculated or constructed. What are the important assumptions made in calculating that data? And what is its practical relevance? So, the next time you hear about certain data, you appreciate the nuances and limitations of the data rather than be dismissive of it.

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All content for DataSpot is the property of DataSpot by IndiaDataHub and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.

In the DataSpot podcast, we try to demystify economic data or indicators for you. We will attempt to answer the practicalities of various economic indicators and concepts rather than their theory. We will try and answer questions like, how is a particular indicator calculated or constructed. What are the important assumptions made in calculating that data? And what is its practical relevance? So, the next time you hear about certain data, you appreciate the nuances and limitations of the data rather than be dismissive of it.

Show more...

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Ep 2 - How is Inflation Calculated in India?

DataSpot

18 minutes 54 seconds

2 years ago

Ep 2 - How is Inflation Calculated in India?

We discuss how inflation, especially the Consumer Price Index (CPI) is calculated in India; how India's statistical body undertakes surveys in different villages and cities; how it compiles disparate data points and arrive at an average value of inflation within 2 weeks of month having ended; why we should not become cynical of the data; and so on and so forth...

Interested in knowing some BTS (behind the scenes) moments of CPI? Tune in to this episode where we demystify inflation calculation for you.

Sources and Further References:

1. CPI - Changes in Revised Series, Base Year 2012, MOSPI

2. Report of the Group of Technical Advisory Committee on Statistics of Prices and Cost of Living, National Accounts Division

3. Manual on Consumer Price Index, Base Year 2010, MOSPI

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